If he were alive, your husband would be at the “eligible for Medicare” stage of life according to the letters you received in the mail today. Completely absurd. Instead of being eligible for a Medicare, your husband died nearly seven years ago. Besides the fact that he never even lived in the house where you currently reside, you have sent made numerous phone calls to get his name off the lists of people who continue send him mail. Additionally, your husband is still getting alumni mailings from the midwestern university that he attended. You are pretty sure you have notified them once or twice that his name needs to be removed from these lists. you cannot make this stuff up!
You receive constant reminders of the fact that your husband is no longer living. In addition to the emotional reminders you have every day, you also receive emails and mails about opportunities that are no longer relevant. And while these visual and emotional reminders of him are bad enough, they also serve as regrets. Regrets that you did not take advantage of the annuity settlement that was available to the two of you when he was still alive.
As a couple, you had decided to take the safe route. Instead of the decision to sell your structured settlements, you decided to take the small payments and wait until retirement to access the money. Now, you find yourself retired, living in a beautiful home that you paid for when you decided to take cash for structured settlement payments. Beautiful home. Lonely life. You were cautious too long. Instead of enjoying these luxuries with your husband, you endure them as a widow.
Many Families Decide to Sell an Annuity to Improve Their Their Financial Situation
Many families in America have reached the point where they are tired of being the victims of debt. After months or even years of barely making it paycheck to paycheck, individuals who have access to a structured settlement payout plan have decided to take the money that is rightfully theirs and take control of their financial future. Instead of waiting until a “later” that may never happen, these families decide to sell an annuity so that they can immediately see the benefits. Consider the Top Five Reasons Why It Makes Sense to Sell an Annuity:
- Reduce debt. All combined, individual American consumers owe $11.91 trillion in debt. In many cases this debt is spread across the balance on an average number of 13 credit cards that today’s consumers carry. At some of the highest interest rates, this debt is a heavy burden to these families and individuals. Making the decision to sell an annuity, however, means that often this debt can be eliminated.
- Pay for college. Even when some Americans take steps to better themselves, they end up with enormous debt. In fact, the average cost of college tuition and fees for the 2014?2015 school year was $31,231 at a private college, and $9,139 for state residents at a public college. Expensive debt to overcome even with the better job that a degree can provide. Instead, the decision to sell an annuity can allow college students to pay cash for their degrees.
- Pay off medical bills. Unfortunately, 35% of the U.S. population indicate that they had trouble paying bills or were stuck paying off medical debt in 2014. Cash from an annuity can erase these medical bills or allow consumers to negotiate a lower payout amount.
- Purchase a home. The average home in America cost $272,900 in the year 2010. For some, this amount is financed with a high interest home mortgage. Instead of continuing to pay high mortgage interest rates, buyers can use the cash from an annuity to pay off an old loan or to purchase their very first home.
- Travel. Where would you travel if money were no object? Deciding to take the cash from a structured settlement can allow people to visit the locations they have always dreamed about. In fact, a family vacation to a great vacation spot can create memories that will last a life time.
Financial burdens are exhausting. Waiting to cash in an annuity until a later time may seem like the logical choice to some, the reality, however, is the perfect time may be now!